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[TROUBLE]

Motorcyclists to pay less for green slips

AAP December 18, 2011, 8:09 pm




AAP © Enlarge photo




Motorcycle riders in NSW will pay less for green slips with the cost of compulsory third party insurance (CTP) set to fall by 19 per cent from January.
NSW Finance Minister Greg Pearce says the reduction follows an audit of prices by the state government.
Mr Pearce said motorcyclists had been paying premiums that were out of step with the risks associated with riding a motorbike.
"This is a great win for motorcyclists," he said on Sunday.
The average CTP prices across the different classes of bikes would fall on January 1 by up to 19 per cent, he said.
The only motorcyclists who won't benefit from the changes are those who ride bikes in the 1126 to 1325 CC class, who will pay $29 more for their CTP insurance than they did last year.
AAP was quoted $379 for a green slip valid from December 30 for a 30-year-old rider of a 500cc motorcycle in Sydney's east with no demerit points. A 19 per cent reduction would cut this to $307.
Mr Pearce said the green slip reduction for motorcyclists came after the NSW government prevented insurers trying to increase the CTP prices for motorists by up to 15 per cent.

[Stoneville]

Because our licensing doesn't work the same!

[filbert]

we don't have to source our own CTP and hence don't have green slips, our rates are already reduced compared to cars.

[mewnz]

This is simply a correction after the reclassification of green slips (with regard to cc's) and the massive price gouge that occured last year. Decent fuss was kicked up about it.

I haven't checked, but I wouldn't be surprised if this 19% decrease still leaves a nice 5-10% increase overall.

[Nero Diablo]

And we still pay a fraction for what they do over east.